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  2. Modified endowment contract - Wikipedia

    en.wikipedia.org/wiki/Modified_endowment_contract

    A modified endowment contract (MEC) is a cash value life insurance contract in the United States where the premiums paid have exceeded the amount allowed to keep the full tax treatment of a cash value life insurance policy. In a modified endowment contract, distributions of cash value are taken from taxable gains first as compared to ...

  3. What is cash value life insurance? - AOL

    www.aol.com/finance/cash-value-life-insurance...

    How does cash value life insurance work? Cash value life insurance is permanent life insurance with a cash accumulation component. As long as premiums are paid, these policies are designed to last ...

  4. Cash value - Wikipedia

    en.wikipedia.org/wiki/Cash_value

    The determination of the cash value, both the base amount and the applicable surrender charge, in the contract can be explicit by determining the value for each surrender date (guaranteed cash values), by referring to the value of specific investments or subject to the discretion of the insurance company, which is often executed to bring cash values in line with values of the investments of ...

  5. Is Life Insurance Taxable? Find Out What Your Beneficiaries ...

    www.aol.com/life-insurance-taxable-beneficiaries...

    The first caveat is that any interest paid on life insurance benefits counts as taxable interest. For example, if the decedent died on Feb. 1 but the proceeds weren’t paid to the beneficiary ...

  6. Form 1099-R - Wikipedia

    en.wikipedia.org/wiki/Form_1099-R

    A nontaxable section 1035 exchange of life insurance, annuity, endowment or long-term care insurance contracts; A nontaxable charge or payment, for the purchase of a qualified long-term care insurance contract, against the cash value of an annuity contract or the cash surrender value of a life insurance contract.

  7. Is Life Insurance Taxable? Find Out What Your Beneficiaries ...

    www.aol.com/news/life-insurance-taxable...

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  8. Endowment policy - Wikipedia

    en.wikipedia.org/wiki/Endowment_policy

    An endowment policy is a life insurance contract designed to pay a lump sum after a specific term (on its 'maturity') or on death. [1] [2] These are long-term policies, often designed to repay a mortgage loan, with typical maturities between ten and thirty years within certain age limits.

  9. What to know when inheriting an annuity - AOL

    www.aol.com/finance/know-inheriting-annuity...

    Either way, at the end of the year the annuity company will file a Form 1099-R that shows how much, if any, of that tax year’s distribution is taxable. In some situations, you may also need to ...

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